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FOX Business
Jan 10, 2013 6:00pm EST
year after year. the phony issue, people are saying if we don't pass the debt ceiling it's a default. that is off the table. the constitution prevents a default on the national debt. revenues come in even after we pass -- you know, past the date which we have not passed the debt ceiling. what it means is it is more like a government shut down, not a default on debt. and shame on the media and people. gerri: there are other things that are bad that may happen like a sell-off in the stock market. the last time we tested this result of 2,000 points in the stock market, and i think that is what they are reacting to. they don't want to see that happen again, and they don't want to see executive to five executives across the country tie up the purse strings. i think they have practical considerations. what i want to know is if you believe that it would be a mistake to test cutting spending by holding off on this debt ceiling issue. >> that's a tough call. i do believe in the rule, and you know it, every dollar of increase in the debt should be tied to a dollar of spending cuts. this is, i
FOX News
Jan 9, 2013 4:00pm PST
trillion-dollar coin proposal to solve the debt ceiling issue? farfetched? but maybe the platinum proposal should not be taking people by surprise. >> so the republicans are clearly in a strong position, but the president might have a trick up his sleeve. >> is there a magic bullet to solve the crisis? try a magic coin. some economists, legal scholars and now even a congressman are suggesting a 1 trillion-dollar platinum coin could be minted and the government could use that to pay the debt, avoid default and preempt the debt ceiling crisis. >> we should have known a coin was obama's solution to everything. it was right there in his slogan. change. [ laughter ] >> bret: so clever. thanks for inviting us into your home tonight. that is it for this "special report." fair balanced and unafraid. it t. is webs so "special report" online starts in 5 seconds. >> this is the fox report. tonight disturbing self-photographs of the movie massacre suspect. disturbing pictures they say they found on his phone. plus a crowded ferry slams into a pier. commuters tossed about by the dozens hurt. >
Jan 9, 2013 4:00pm PST
as the bigger issue around the debt ceiling. and then we need to get to the longer-term issues in terms of where america is going, and that starts with tax reform as well as immigration issues and infrastructure issues. >> i hear the same message from business people across the country. we need more certainty from washington if we're going to kick start growth in this economy. is washington helping or hindering in a bid to bring unemployment down in the country? >> being the optimist that i am, i say washington is attempting to help. what was passed at the end of the calendar year was a good first start. but there's a lot more that needs to be done. they are helping. if we can get past some of the partisanship and get into citizenship, we can move along a lot more quickly. businesses are frustrated. >> what are the bigger things you mentioned, the things america needs to do to stay competitive in this challenging economic environment, domestically and globally? >> absolutely. first, you've got to get through the fiscal issues. balance in the deficit and budgets, number one. and then we need to g
Jan 10, 2013 9:00am EST
proposal but if the debt ceiling doesn't get raised temporarily, it is better off if the government issues ious essentially. >> yeah. it is essentially what we would be doing. i mean -- you know, you call it whatever you want. it is essentially the trillion dollar coin would be an accounting fix. it would be -- temporary transfer of money from treasury to the federal reserve. we would pay our bills on time until the debt ceiling gets raised. then coin would go back to treasury and get melted down and would actually be no new money in the system. in the abstract stuff like this makes sense. as a way to get past the debt ceiling. in terms of how we actually govern ourselves and future and reaction in the markets, it is just not a viable solution. the only solution is for congress to raise the debt ceiling and pay for stuff that already said it would pay for. >> more importantly, who will be on the -- on the coin? that's what we -- >> i think tony should be. >> someone suggested maybe make it $1000 billion coins. whoever racked up the 10 highest debts of any president or something like that.
Jan 10, 2013 12:00pm PST
blasted this idea and doesn't seem realistic especially as you said there's issues and not only debt ceiling, sequester and government funtding so if the president wants a deal on any of those, making a new coin to raise the debt ceiling probably wouldn't bode well for the totality of those negotiations. >> i would say minting a coin, it definitely is sort of gimmicky or silly and so is using the debt ceiling as a hostage taking technique so glad that they haven't totally ruled that out yet and use it maybe as leverage in this upcoming fight. jake, thanks so much for joining us. >> thanks, guys. >>> up next, the white house calling in the big guns to get on its message on gun control. a busy thursday at 1600 pennsylvania avenue and we have it covers here. [ female announcer ] research suggests cell health plays a key role throughout our lives. one a day women's 50+ is a complete multivitamin designed for women's health concerns as we age. it has 7 antioxidants to support cell health. one a day 50+. humans. even when we cross our t's and dot our i's, we still run into problems. namely
Jan 10, 2013 7:00am PST
when we hit the debt ceiling right. >> the debt ceiling coming up. debt ceiling in fiscal cliff has now become 2013 issues. but us talk about another winner. this of facebook shares rally above $30 a share. we are on our way up it is a winner for facebook. >> the ipo had people screaming like a scalded champ. it is up 10% this year so it's a matter of when did you buy it. after announcing a mystery press conference for tuesday next tuesday the 15th. i looked at their peak about 160. that is pretty expensive. they got something. they have this do it hasn't called yet. >> maybe it could be a retail announcement that they have. maybe it will be a fall, streaming, or games. a lot of people are expecting that will show off their new building. >> i think it will be a new hoodie. >> let us talk about a loser bridge piers is leading the x factor after one season. she met a lot of money after one season. >> if she did you hear what is it? >> no. >> she said i quick y'all. >> to the new paula abdul is she? beating she is working on an album with will iam. >> $15 million per season. i quick y'all.
Jan 9, 2013 5:00pm PST
blocking hagel that's time they lose as far as the debt ceiling gun control or immigration. it's smart by the white house to draw the republicans in, and while the republicans are focusing on one issue it's like whack a mole you address something else. >> john: what are the odds they do anything about climate change? >> we haven't seen--again maybe we'll see a different approach in the second term, but having said that there is nothing from obama's past that shows he wants to go out and do these controversial things. carbon tax anything dealing with the environment, climate change, i would be surprised. if he's going to cause the freak out with the executive order of gun control, that takes up so much oxygen, and you can only have so many of those freaks outs, and he can't do it seven or eight times. >> john: i think america has seen enough g.o.p. freak outs. >> they want to do something about climate change, but it's only when the economy is humming well when we ask companies to cut down on emissions. but right now there is no room to maneuver on this at all. >> john: getting the cab
Jan 10, 2013 3:00pm PST
and the looming debt ceiling debate. but there really is more on his plate, including immigration reform and student loans and possible supreme court vacancies. how do we expect president obama to handle these very large matters and what are his priorities going to be in his second term agenda? kelly has been writing about this welcome inside "the war room." >> happy new year. >> jennifer: happy new year to you, too. always delightful to have you. you've been working on the issue of the second term and what is looming. kelly, today the conservative chamber of commerce said immigration reform is one of their top priorities. don't you think that's a huge gift to president obama's hopes to achieve immigration reform in this new congress? >> you know what is the biggest gift to president obama for immigration reform, the election. the election. because i'm sorry, when i heard that sean hannity was open to immigration reform, i wasn't sure if i was on that episode of "seinfeld" where everything was in bizarro world. we've crossed over into a new america. immigration reform is no long arrest p
Jan 10, 2013 9:00am PST
's debt ceiling. that's going to be a huge debate. >> yeah. >> and lew if confirmed will have a major role in that. >> yeah. and i agree with gloria. i don't think there's going to be a big confirmation battle. you have to really not like the treasury secretary to not confirm him. here's the thing, compare it to four years ago when tim geithner came in. geithner had been in the room prior to becoming treasury secretary when he was head of the new york federal reserve. they made the decision to let lehman brothers fail. he walked into a banking and a central bank global financial crisis, and he was a guy who had no learning curve. same thing here. we don't have a banking crisis, we don't have a central banking and financial crisis. we've got a budget crisis in washington. jack lew is steeped in the budget. he takes over from tim geithner right in the middle of this debt ceiling debate which will be followed immediately by the sequestration, the broad spending cuts debate. and then the fact that the u.s. has not had a federal budget since 2009. the so-called continuing resolutions which mean
FOX News
Jan 9, 2013 9:00pm PST
and the debt issue. this idea nancy pelosi has been advocating and others that the president can ignore the debt ceiling limitations and incur debt. the fact you've got nancy pelosi and other democrats saying this is the way we go with, we have to, showing this is a lot of threats and ignoring constitutional reality of separation of power. from e yek tiff branch. >> saying this is a post constitutional america. this is now, taking executive power to a degree that nobody is taking before without respect to precedent. let's go to the videotape and words of warner wolf, let's listen to your friend president obama on the issue of executive privilege and orders in 2007. >> i think that the issue of executive power and executive privilege is one that is subject to abuse. and... in an obama presidency what you will see will be a sufficient respect fr law and co-equal branches of government. i hope we don't find ourselves in a situation for things being subpoenaed for what everybody acknowledges is trouble information out there. >> sean: if the president can't get an appointment he wants, then,
FOX News
Jan 9, 2013 6:00pm PST
, but there's a connection, sean, between that issue and the debt issue. this idea that nancy pelosi has been advocating and others, that the president could just on his own ignore the debt ceiling limitations and incur debt. the constitution says exactly the opposite. the fact that you've got nancy pelosi and other democrats saying, this is the way we could go if we have to, shows you that this is a lot of threats and ignoring the constitutional reality of separation of the executive branch, legislative branch and-- >> mark levin, the great one says this is a post constitutional america, now taking executive power to degrees that nobody has taken it before without respect to president. now, let's go to videotape and warner wolf a great new york sports caster and let's listen to president obama on the issue of executive privilege and orders back in 2007. >> i think that the issue of executive power and executive privilege is one that is subject to abuse and in an obama presidency, what you will see will be a sufficient respect for law and the co-equal branches of government that i hope we don
FOX Business
Jan 10, 2013 5:00pm EST
the lead and cut those entitlements. if not, if we're looking at a debt ceiling rising and that is a difficult situation. melissa: jonathan, real quick, last word. we're out of time. go ahead. >> this is the individual who signs the currency. he needs to be the fiscal voice of reason in the white house. jack lew is on record saying he doesn't believe big cuts are needed, big changes are needed. he is more of a surgical, small cut type of guy. this is exactly the wrong approach given our fiscal issues. melissa: we'll end on that. fantastic power panel. come back soon. thank you very much. nothing says can thing like scoring an oscar. the academy awards nominees are out. how much does it pay if you win? we'll crunch the numbers next. >>> plus the worst flu season in a decade is sweeping the country but the outbreak could make the economy fall ill. we'll explain coming up. do you ever have too much money? definitely don't have many oscars, that's for sure. ♪ . look, if you have copd like me, you know it can be hard to breathe, and how that feels. copd includes chronic br
Jan 10, 2013 6:00am EST
the cliff, got the debt ceiling, got the sequester. that's all still background for you, siths just noise, no? >> let's go to some simple issues. the world is $75 trillion. the united states is 16% of that. europe is 22%. but china and japan are 21% and they've got new leaders and they're stepping on the accelerator. abe and li are starting to push. that's helping the export picture. when i talk to companies in the last couple of days, because of their releasing of earnings, december was not good. a definitely of uncertainty crept in again. similar to what happened in '08, and you you can see that hope lfl i that's starting to come back. >> all of the emotion associated with everyone turning on television and wondering what's going on with this country. so short term you've got the impact of the next one sequestration coming up. you've got the next one dealing with the debt limit. then you have long-term structural issues. then you have to deal with the following. if i'm getting paid every two weeks my first check is going to have $40 less if i make less than $50,000. companies are saying
FOX Business
Jan 10, 2013 1:00pm EST
fall off the fiscal cliff or if we don't get an increase in the debt ceiling. republicans need to stand at. ashley: why has senator reid not brought a budget to the senate floor, and what about this class warfare issue? is it unfair? >> well, you know, we cannot continue to legislate. ashley: i agree. we cannot legislate by crisis by crisis which is just kicking the can down the road for one month at a time. we need to have adults in the room to hammer out a long-term fiscal plan. i think that is what the president was doing today when he announced, as is the treasury secretary, jack lew. that is really hopefully with him there now at the head of the treasury department and with some, bruises from the last two battles, we will have some sanity returned and we can actually get something done that is more than just one more month of kicking things down the road. ashley: kate, you are not a big fan of jack lew, are you? and no other republicans have called him condescending and flexible, even a little sneaky. >> i think jack lew signals obama's intention to only intensify this class warfar
Jan 10, 2013 3:00am PST
the debt ceiling problem. >> peter: one way to solve the debt ceiling problem is for the treasury to create a coin and deem it worth $1 trillion. it is the mint a coin campaign and use that to pay down our deficit. the white house yesterday was asked about it. they didn't rule it out. what's your take on that, congressman? is that something that we could possibly look at and even go down that path? >> i think we should look at it -- i think we should look at it very, very carefully. it is almost too good to be true, to be frank. we can solve this problem. this debt problem. and we can make sure that we do this in a very balanced way. the key to all of this is bring in again, vice president biden. i thought did he a great job. explaining the negotiations. i think he -- we were very impressed with his negotiating skills. i think the president needs to do more in that role. the circumstances at the time, to cause the parties to do this thing right so that there is a balanced approach. we've got to get more revenue. we've got to be careful that we're not taking from people that already have not
Jan 10, 2013 1:00pm EST
, what could happen on the debt ceiling, if you put all that together, we cannot sit back and not to prepare for the worst. that is what we're trying to do. >> having been a chief, the way the mechanism is established, we would have to absorb $52 billion of production, whenever it starts. in october, it is 52 billion over 12 months. january, $52 billion over nine months. in march, six or seven months. the burn rate isn't sustainable. we have to take measures to prepare ourselves for that. >> we are implementing, we're basically spending money pursuant to what we had in the 2013 budget. -- if weis what we're were required to do these cuts, suddenly we have to achieve this level of savings. where do we go? we're going to protect the war fighter. we are going to protect those areas that are critical to national defense. where do you go? you go to readiness, maintenance, training, this is where cuts are ultimately made. when that happens, it makes us less ready. >> a $45 billion, not $52 billion. >> you are not correcting me because i am right. [laughter] >> on the ethics comm
Search Results 0 to 20 of about 21 (some duplicates have been removed)